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Feb 1, 2021

Roanoke County launches economic development strategic plan

Roanoke County Economic Development announced Monday it has launched Elevate Roanoke County 2026, a five-year strategic plan focusing on the county’s economic development program . The Virginia Tech Office of Economic Development will work with Roanoke County Economic Development, which is also funding the project in partnership with Appalachian Power. “Developing a strategic plan is […][...]

Feb 1, 2021

Gannett to refinance $1.05B in debt

McLean-based Gannett Co. Inc., the largest newspaper publisher in the U.S., announced Monday it will refinance $1.05 billion in debt to lower its interest rates and extend maturity on outstanding debt. Gannett, which has struggled financially during the pandemic, in November 2020 announced it had refinanced approximately $500 million in debt to more quickly repay […]

Feb 1, 2021

Peraton closes on $3.4B cash purchase of Northrop Grumman biz

Falls Church-based Fortune 500 aerospace and defense contractor Northrop Grumman Corp. announced Monday the closure of the sale of its federal IT and mission support services business for $3.4 billion in cash to Herndon-based national security contractor Peraton, a Veritas Capital affiliate. According to the December 2020 announcement about the sale, proceeds are expected to […]

Feb 1, 2021

Pharma manufacturer announces Albemarle County expansion

Pharmaceutical manufacturer Afton Scientific LLC will invest $500,000 to expand its Albemarle County operations, adding 20 jobs, Gov. Ralph Northam announced Monday. The company will add 8,000 square feet to its 2020 Avon Court facility to “accommodate its 50% growth over the past year and expected similar growth in 2021,” according to a statement from […]

Feb 1, 2021

Wells Fargo to lay off 320 Henrico County employees

The investment management and financial brokerage business unit of Wells Fargo & Co., Virginia’s third-largest bank by 2019 deposits, will lay off 320 employees from its Henrico County office. The wealth and investment management jobs are moving to some of the bank’s larger locations, Wells Fargo Advisors spokesperson Shea Leordeanu said in a statement. Wells […]

Feb 1, 2021

Blue Ridge Bank, Bay Banks complete merger

Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Monday it has completed the merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. Virginia Commonwealth Bank will continue to operate under its current name until systems are converted in May. The bank will […]

Feb 1, 2021

Va. hotel revenues fell 42% in December 2020

Virginia hotel revenues for December 2020 were on trend for a year that saw the hospitality industry suffer from the pandemic. Compared with December 2019, hotel revenues statewide declined by 42% during December 2020, according to data released Monday from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality […]

Jan 29, 2021

Rockingham County gets a little sweeter

Smiley’s Ice Cream will invest more than $1.15 million to build a new ice cream manufacturing facility and retail store in Rockingham County, creating eight jobs, Gov. Ralph Northam announced Friday. The homemade-style ice cream producer will source an additional 18,000 gallons of Virginia-produced dairy and 2,500 pounds of Virginia-grown fruits during the next three […]

Town and Country Shopping Center. Photo courtesy Cushman & Wakefield | Thalhimer
Jan 29, 2021

York County shopping center sells for $2.9M

A shopping center in York County sold for $2.9 million, Cushman & Wakefield | Thalhimer announced Tuesday.  The 39,000-square-foot Town & Country Shopping Center is located at 465-469 and 473 Merrimac Trail and is fully leased to tenants including NAPA Auto, Family Dollar, Davita Dialysis, Eastside Church, The Wash Hous[...]

Jan 28, 2021

Tegna acquires podcast company

Tysons-based broadcast and digital media company Tegna Inc. announced Thursday it has acquired Locked On Podcast Network, which covers local sports and the four major professional sports leagues. Financial terms of the transaction were not disclosed, but the acquisition will expand Tegna’s podcast market presence.  Locked On produces daily shows for the NBA, NFL, MLB […]

Initial unemployment insurance claimants by county and city weeks ending Jan. 23 over Jan. 16 change. Green shows a decrease, yellow shows an increase of 1 to 10 claimants and red shows an increase of 11 to 50 claimants. Graphic courtesy Virginia Employment Commission
Jan 28, 2021

Va. saw slight decline in initial jobless claims last week

Virginia saw a 13.1% drop in the number of initial jobless claims filed last week compared to the previous week, but unemployment remains high across the state, according to figures released by the Virginia Employment Commission on Thursday. The week ending Jan. 23 saw 18,312 Virginians filing initial unemployment claims, a decr[...]

Jan 28, 2021

Charlottesville’s MicroGEM acquires engineering company for COVID-19 test manufacturing

Charlottesville-based molecular diagnostics company MicroGEM announced Thursday it has acquired New Hampshire-based engineering company Jump Start Manufacturing LLC. Financial terms of the transaction were not disclosed, but the acquisition will allow MicroGEM to “rapidly scale” production of its SARS-CoV-2 (COVID-19) testing system, which is designed to detect the virus in both symptomatic and asymptomatic people. […][...]

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